The NDRC Department of Institutional Reform said south China’s power market now
has over 270,000 registered participants, about one quarter of the national
total. Market-based trading accounted for 67.5% of electricity volumes, roughly
4 percentage points above the national average. A peak–valley pricing and
flexible-balancing regime has improved resource allocation efficiency; since
continuous-settlement trials began West-to-East transfers exceeded planned
increases by more than 20 bln kWh, and 2025 transmission volume reached a record
261.6blnkWh.